2 Legal Disclaimer This presentation (the "presentation") has been prepared for use by Good Works Acquisition Corp. ("Good Works") and Cipher Mining Technologies Inc. ("Cipher" or the "Company") in connection with their proposed business . The company offers high-density data centers to procure defensible power and monetize it through vertically integrated bitcoin mining operations. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. As of December 13, 2022. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW). Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will Angel investor. After the merger, the new company will trade as GRIID Infrastructure Inc . Head to consensus.coindesk.com to register and buy your pass now. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving todays market and shaping tomorrows economy. Adit EdTech also will file The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined company enterprise value of approximately $3.3 billion. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through this transaction. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future We currently mine Ethereum, Ethereum Classic and Bitcoin. Such statements are not guarantees of future performance and actual This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. please contact. Information regarding Adit EdTech's directors and executive officers is available in Adit EdTech's Annual Report on Form 10-Kfor the year ended December 31, 2020 ", David Shrier, CEO of Adit EdTech, added, "Carbon-free mining is the future of bitcoin. Please review the disclaimers carefully and other important information found in the press expressions. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Elon Musk will aim to quiet any doubts about Tesla's standing in the electric car race on Wednesday when the serial entrepreneur convenes an investor day. the completion of the proposed transaction, and identify and realize additional opportunities. 2023 Benzinga.com. may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this communication. "EEI and our member companiesAmerica's investor-owned electric companiesare at a global inflection point," said Kuhn. We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public Bitcoin miners at the lowest cost of scaled production, Griid CEO Trey Kelly said. 2023 Benzinga.com. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. To learn more, visit griid.com. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of Global Investors and Executive Chairman of HIVE, % of basic common shares outstanding, based on public filings, HIVE Blockchain Q3 F2023 Results Earnings Webcast, Stonegate Capital Partners Initiates Coverage on HIVE Blockchain Technologies LTD. (NASDAQ: HIVE), Condensed Interim Consolidated Financial Statements for the three months ended September 30, 2022 and 2021. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Earth Grid Virtual Investor Presentation Wednesday March 8th at Noon. this press release. instituted against GRIID or against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. Your weekly wrap of Web3 news and trends. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. This presentation includes certain statements that may constitute "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Covington& Burling LLP acted as legal advisor to Adit EdTech. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Contact us. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. This announcement is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such Do Not Sell My Personal Data/Privacy Policy. Bitcoin miner Griid Infrastructure is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. www.sec.gov. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar expressions. It provides equity shareholders a way of getting exposure to the crypto world through a traditional investment vehicle. News and analysis for the professional investor. Adit EdTech's strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. speak only as of the date of this communication. Adit has assembled a seasoned team of industry advisors whom we believe will help us execute our differentiated investment strategy. adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. If Ethereums shift to proof of stake were to occur, HIVEs GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies including those using the proof-of-work standard as they become more profitable to mine, as well as for other high efficiency computing applications, such as artificial intelligence and graphic rendering as well as private blockchain computing, which are becoming more widespread as the blockchain technology grows and develops. Benzinga does not provide investment advice. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. differ materially from those projected in the forward-looking statements. Griid Profile and History . GRIID anticipates fiscal year 2023 revenue of $1.6 billion. RT=Real-Time, EOD=End of Day, PD=Previous Day. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. GRIIDs existing management team, led by President and By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. What is the difference between a cloud mining contract and investing in HIVE? After the merger, the new company will trade as GRIID Infrastructure Inc and the ticker GRDI on the NYSE. A proxy statement will be sent to all Adit EdTech stockholders. It also maintains a portfolio of coins as inventory. Additional Information and Where to Find It. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Leasing hash is finite and non-transferrable. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. griid | 1,570 followers on linkedin. programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. The foregoing list of factors is not exhaustive. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. Days after an initial report, Griid Infrastructure has confirmed plans to go public, with the Cincinnati-based bitcoin mining startup valued at $3.3 billion. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. By Do It Right LLC. When and where. This communication may results or developments may differ materially from those projected in the forward-looking statements. Griid Infrastructure, which owns and operates bitcoin mining facilities, is to list on the New York Stock Exchange through a merger with Adit EdTech Acquisition Corp., a special . A GPU or graphics processing unit on the other hand, can mine many different types of cryptocurrencies and has the flexibility to switch between them. Tesla CEO Elon Musk is scheduled to unveil the automaker's longterm plan at an investor day in Texas. the combined company is expected to operate under the name GRIID This makes it more efficient than, The second-gen Intel miner doesn't beat out, It is unclear whether Intel will be selling exactly the same mining rigs to all of its customers. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. Fast and reliable internet access, as well as a cool climate, help to lower costs. price, (vii)risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Australias Central Bank Taps Mastercard and Others to Test CBDC Use Cases, Bitcoin, Ether Settle Into a Range as Indicators Point Neutral, Digital Asset Investment Products AUM in February Reaches Highest Level Since May 2022, Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source. Intel's second-generation miner, dubbed the Bonanza Miner 2, is the second most efficient on the market, according to an investor presentation filed in November by Griid Infrastructure, one of . 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